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Vietnam takes tougher move to protect environment
Anh Kiet - Le Mai 14:49, 2020/08/31
Vietnam's finance ministry is tasked to propose tax rates on virgin plastics, prevent tax evasion, especially tax on plastic bags.

Vietnam plans to increase tax on plastic products in an attemp to discourage the use of plastics and protect the environment, Kinh Te & Do Thi reported.

Prices of cheap plastic bags, only from VND18,000 (US$0.78) to VND45,000 (US$1.94) per kilogram, have led to their rampant use.

 Using plastic bags is still a popular habit in wet markets. Photo: Minh An

As the environmental protection tax on plastic bags is only VND50,000 (US$2.16) per kilogram, a higher tax rate on plastic products will deter the commercialization of plastic products, protect marine ecological environment and prove that Vietnam is a responsible member of the United Nations.

Accordingly, the prime minister has assigned the Ministry of Finance to amend the Law on Environmental Protection Tax in the direction of expanding its scope and increasing the tax rate on plastic products. The ministry is tasked to propose tax rates on virgin plastics, prevent tax evasion, especially tax on plastic bags.

Besides, the Ministry of Finance has been assigned to coordinate with the Ministry of Natural Resources and Environment in studying and proposing financial policies to promote and encourage waste and plastic waste recycling, support eco-friendly plastic bags and environmentally-friendly materials.

The environmental protection tax on plastic bags is applied in most countries around the world. The Ministry of Natural Resources and Environment’s statistics on tax policies in more than 50 countries show that 27 countries tax production, and about 30 countries tax consumption of plastic bags.

Experts say that tax on consumption will immediately adjust user behavior, contributing to reducing consumption of plastic product.

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TAG: tougher move protect the environment plastic bag Ministry of Finance Ministry of Natural Resources and Environment
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